Y Intercept Hong Kong Ltd Buys New Stake in Kite Realty Group Trust $KRG

Y Intercept Hong Kong Ltd bought a new stake in Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 33,414 shares of the real estate investment trust’s stock, valued at approximately $745,000.

Several other institutional investors have also modified their holdings of KRG. Resona Asset Management Co. Ltd. raised its holdings in shares of Kite Realty Group Trust by 9.8% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 97,055 shares of the real estate investment trust’s stock valued at $2,140,000 after purchasing an additional 8,658 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Kite Realty Group Trust by 28.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 61,294 shares of the real estate investment trust’s stock valued at $1,367,000 after purchasing an additional 13,700 shares during the last quarter. Strs Ohio boosted its position in shares of Kite Realty Group Trust by 2.7% in the 3rd quarter. Strs Ohio now owns 998,258 shares of the real estate investment trust’s stock valued at $22,261,000 after purchasing an additional 26,700 shares during the period. Samalin Investment Counsel LLC grew its stake in Kite Realty Group Trust by 27.2% during the 3rd quarter. Samalin Investment Counsel LLC now owns 13,652 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 2,918 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Kite Realty Group Trust by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 67,293 shares of the real estate investment trust’s stock worth $1,488,000 after buying an additional 1,268 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $24.00 price target (up previously from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Hold” and an average price target of $25.43.

Kite Realty Group Trust Stock Up 0.6%

Shares of NYSE:KRG opened at $23.62 on Tuesday. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $24.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $23.42 and its 200-day simple moving average is $22.68. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 5.93 and a beta of 0.89.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.9%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is 181.25%.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.